Benefits Guru and STAR, two industry award schemes, have released their 2025 ratings for workplace pension providers, ranking them on financial wellness and transfer times, respectively.

The financial wellness ratings for employers and advisers included pension providers with and without open finance.

Aviva, Fidelity, Hargreaves Lansdown, Scottish Widows, and Standard Life achieved an overall gold rating, as they did in 2024, across several propositions and subcategories, including personalised financial education and identifying and addressing vulnerable customers.

Standard Life group flexible retirement plan (GFRP) and defined contribution (DC) master trust achieved gold awards in all categories, while Mercer master trust improved its overall 2024 rating from silver to gold this year.

The highest number of gold ratings were awarded in two areas: addressing vulnerable customers and personalised financial education.

Benefits Guru head of workplace research, Jason Green, said it was "encouraging" to see workplace pension providers continue to invest in and evolve their financial wellness propositions.

"This year's ratings highlight real momentum, particularly in areas like personalised financial education and support for addressing vulnerable customers,” he continued.

"As careers get shorter and less linear, employees expect flexibility, portability, and tools that link long-term savings with everyday financial goals.

"Providers are meeting these needs beyond traditional pension offerings by creating more holistic, day-to-day financial well-being tools. From offering financial health checks to encouraging better budgeting and short-term saving, the industry is stepping up to help members feel more in control of their finances," he suggested.

Green argued that as financial uncertainty persists for many, the role of workplace pensions in driving financial resilience is becoming “more central than ever.”

“Providers are proving they can deliver long-term savings solutions and meaningful support for today's financial challenges," he added.

Meanwhile, STAR, the industry award scheme designed to combat delays in electronic transfer times, has also published its 2025 accreditations.

The scheme evaluated firms based on their management information (MI).

In the ISA/GIA category, abrdn Fund Managers, Aegon UK, Elevate Portfolio Services, Hargreaves Lansdown, Janus Henderson Investors, Liontrust Fund Partners, M&G Securities, Nutmeg Saving & Investment, Prudential, Quilter Investment Platform, Rathbones Asset Management and Wealthtime Classic all achieved a gold ranking.

In Personal Pensions, Fidelity International (Pensions), Hargreaves Lansdown, Nucleus Financial Services, Prudential, Quilter Life & Pensions and Wealthtime Classic were placed in the gold category.

Legal & General, Prudential and Standard Life achieved gold in occupational pensions.

For asset managers and transfer agents, abrdn Fund Managers, Baillie Gifford, Janus Henderson Investors, JP Morgan, J O Hambro Capital Management, Jupiter, M&G Securities, Ninety One, Royal London, Schroders Personal Wealth, T. Rowe Price and Vanguard were ranked gold.

STAR chair, Andrew Marker, said that firms submitting themselves for accreditation should be "applauded" for standing up to scrutiny and being held accountable for their performance.

“Participating in the STAR transfers initiative does not guarantee a firm's success, as STAR accreditation is based on merit.

“We urge all eligible firms to participate and make it clear to consumers that they are taking their transfer performance seriously," he added.

---